Bangladesh Finance Adviser Confident in Managing New US Tariffs
Dr. Salehuddin Ahmed stated that the new US tariffs will be manageable for Bangladesh’s economy. He emphasized ongoing negotiations with US authorities and noted the stability of commodity prices during Eid. Additionally, record remittances have contributed to increasing foreign reserves, reflecting an improving economic situation.
Dr. Salehuddin Ahmed, the Finance Adviser of Bangladesh, stated that the recent tariffs imposed by the United States will not pose significant challenges for the country’s economy. He assured that the Bangladeshi government is actively engaging in negotiations with US authorities to address these tariffs. Dr. Salehuddin expressed optimism, stating, “The impact on the economy due to the new tariffs imposed by the US will not be difficult to manage. We are hopeful that something good will come out of it.”
During a press interaction at the Secretariat, following the Eid holidays, he mentioned that Bangladeshi goods were previously subjected to an average tariff of 15% in the US. Following recent announcements from the Trump administration on April 2, an additional 37% tariff has been implemented. Notwithstanding this development, Dr. Salehuddin noted the stability of commodity prices throughout Ramadan and the Eid-ul-Fitr celebrations, which he indicated brought relief to the public.
He highlighted that Bangladeshi citizens experienced a pleasant Eid celebration this year, with the country receiving $3 billion in remittances during March. This influx contributed positively to the nation’s foreign exchange reserves, which have shown an upward trend. The Finance Adviser concluded by stating that the overall economic situation in the country is steadily improving, accompanied by an increase in foreign reserves.
In summary, Dr. Salehuddin Ahmed’s remarks underscore the resilience of Bangladesh’s economy in the face of increased US tariffs. His assurance regarding the government’s negotiations and the stabilization of commodity prices indicates a proactive approach to mitigating any adverse effects. Additionally, the significant remittance inflow further boosts confidence in the nation’s economic outlook, suggesting a positive trajectory moving forward.
Original Source: www.bssnews.net
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